Sell 2007 and Buy 2013 Three?

Huge question. Many answers - as you probably know. So this isn't an answer, but just a reflection on some of those questions.

If your present car is still running fine, you could just keep it without considering 1) below - and go straight to 2).

Otherwise, you've got 2 basic, but variable options from what I can see.

1) you would find out what they'll trade your car for - (unless you sell it privately), work out how much $$ you need and sort out the finances out first (and look for the best loan rate and terms, possibly not through the dealer). Then buy the car if you can afford it. BUT you have to work out if the features of the new car are in line with your budget. And if the car is as good as the photos and description show - it could be worth looking at and driving a few others as well.

Alternatively 2), you could put that same monthly payment into savings for x years and when you've saved up, you pay cash. My experience is that when saving up like that, I'd tend to grow the sum quicker because I would add other funds which came from time to time (like a tax refund or pay-rise [albeit rare] backpay etc).

Or sometime in between - save frantically for a year and reduce the amount of the amortized loan, and thus the amount of interest you pay and loan term (or get an even newer car).

Bear in mind that, if you save for 1 or 3 yrs, then buy, it could well be a 2014 (or even 2016 model?) you'd get for your money. But if you buy today, you'll have a car 6 yrs newer TODAY.

As far as features are concerned, I do find bluetooth handy - but is it worth $$$? I've never tested out the knee airbag (thankfully) - and it's difficult to say if they had to put it there to get a 5* rating, but it maybe wasn't needed in 2007 due to a different dash design. There are other aspects which 2013 has, like most people reckon the seats are better which could make it worth spending to upgrade.

 

I had the same feelings. I had a perfect 2007 that had 116k on it and I was afraid at any minute things were going to start falling apart. There were some great deals to be had on the gen 3's and since I hated the gen 4's I went ahead and upgraded. Almost immediately I started having regrets. My 2007 was so perfect, what if this one isn't as good? It also already had enough nicks and dings that I didn't care if she got scratched, now that is all I think about. I haven't parked next to another car in 4 months. It is exhausting. I don't know if I would have made the same decision.

 

We sold our 2005 and got the 2013 because the traction battery was losing capacity. It would swing from empty to full within a couple miles with just a little grade involved. Otherwise, the car was fine--good overallMPG. We love the 2013, and don't look back. We even added a 2014 to compliment it.

 

Wow, 2007 with 87K miles, thats approximately 9700 miles a year. Sometimes emotions influences financial decisions and vise versa, my suggestion are:
1. Figure out how long you want to keep your current vehicle
2. Find out estimate price for battery and installation cost dealer and non dealer for the current vehicle.
3. Estimate the cost of other maintenance such as (oil changes, 12 v batteries, fluid changes...) for the current vehicle.
4. Estimate current value of your current vehicle.
5. Subtract the estimated price for the new/used and your current vehicle.
6. After you review and consider your estimate final price, think and factor in your time worth (is your time worth in doing maintenance or spending time doing maintenance)

Usually keeping current vehicle will save you money(overall), although cosmetically the car may look outdated as long your current vehicle can run acceptably and you know your vehicle longevity (experience), you should keep for a while. No matter what advice and information provided by others, is your decision at the end.

My experience with most current buyers, emotion(s) take over and do strange things (always have justifying reason(s) or none)..but then is human nature to want better things in life.

 

I'm a bit intrigued - you say you hated the Gen 4. I'm in the same boat - there are a few Gen 3s still around in dealerships ($5000 less than Gen 4, or some fully loaded I-tech Gen 3s for very good prices).

I haven't driven a Gen 4 yet - there are only a few demo base models in my city at present, but it seems you actually preferred the gen 3 over the Gen 4. What was it particularly that you didn't like about the Gen 4 - the way it drove? comfort? or price? or something else?

thanks.

 

welcome! when purchasing a car, new or used, 'a good deal' is only relative to what is available. we can't tell you unless we're searching in your purchase area.
your best bet is to look around, compare vehicles and buy the one you're most comfortable with.
certainly, ownership, accident and service history are very important in a used car purchase. then test drive and price.
if the market is hot, offers won't be as successful as when it is slow. it should be slow right now, with gas prices, and you're driving a good car.
so i would take my time and do the research. all the best!

 

The look. The gen 4 has grown on me but there is no way I would buy a gen 4 right out of the gate. I am sure it is a better car and ride overall but I would have waited a couple of years for Toyota to get the bugs out. I'll probably be ready for another car around gen 5 time.

 

A 2013 with 20,000 miles sounds like a good buy. I'm not that up on US pricing, but I'm guessing $17000 is a bit high. More savvy US members will comment. Just means you need to dicker a bit.

Just be sure to check it over carefully, the paint, body, pop the hood and see how the engine bay looks, look under the hatch floor at the spare and it's tools, the 12 volt battery. Look inside the fenders, the rear and front underside, along the rocker panels. Be on the lookout for missing fasteners, anything hanging, badly scraped, strange rust, also paint overspray. Look all the tires and rims over. How's the tread, how are the rim edges.

You can get a good feel for a car's history just by visual impressions. And there can be some zingers: if the engine bay is strangely clean, for example, it can be a sign of a dealership going overboard on cosmetics, perhaps missing more serious issues. Who knows, just take your time. And for sure take a good test drive, see how it sounds, behaves.

 

There is a local Toyota dealer near me that always has a large stockpile of used Prii. They have 2013 three's with about double the miles at $16,900 and none of them are certified. I would try to get them down a little.

Edit, but then again I just saw a 2013 three certified with 15k for $19,500 so maybe that car is a good deal.

 

Thanks - that is a valid point I've thought about often - with Gen 3, after 3 yrs there was the 2012 update which brought some improvements. Gen 3 is very tried and tested. Countering that, I see the advances in technology - standard adaptive cruise, lane change warning, city braking and the better crash testing - makes it a compelling argument the other way.

I generally buy cars new and keep them 3-4 yrs. So if I bought a Gen 4, it would be under factory warranty for the first 3 years anyway, so unless it was a real lemon, that shouldn't be a problem. By the time I got delivery (maybe July/August/Sept??) it would have been in production for the best part of a year. I also suspect that Toyota, with what is a flagship model, would have tested the car a bit more than the average car on the market.

 

Honestly I was in the same situation, and I decided to just keep my 2007, and upgrade the front/rear sway bar for $200 out the door. Drives better now, and no regrets. The 3rd gen prius suffers from more road noise imo than the gen 2, and also has less cool areas to hide things.

 

I can't comment on your current car but I picked up a 2013 Persona CPO w/ 21k miles this month close to your price point. I think in general hybrid cars aren't in high demand now with gas prices being low. Review the entire OTD price breakdown to include all items (mine added a $750 certified fee which sounded sketchy to me but they did remove it--the car was so clean it's not like they did any significant reconditioning). For a clean 2013 CPO with low miles and depending on trim I would think 15k-18k would be a fair price to pay (excluding title, tax and other fees).Anything more than that and I would start cross shopping brand new cars. I looked at these cars when new and they were already discounted several thousand dollars. If trading in the used car manager will likely low ball you 1 to 3 times. You should be able to get KBB Good value without pulling out your hair. Sometimes using a car buying service can make the process go smoother.

p.s. Make a list of things you want to check when you do your inspection (both keys, worn mats, worn seats, curb rash, scuffs that need to be buffed, etc). I always look to make sure the glass is OEM and the calipers aren't rusted. If the price is lower than what Carmax is selling for a comparable car and you are getting it with a Toyota CPO then good deal.

 

Can you clarify your comments on 2014 and 2015 crash test scores being lower? If anything should be better than 2013 as Toyota made some fixes to adjust for the newer IIHS small overlap test, which came out mid-Gen3 run. Just make sure you are not penalizing 2014/2015 for something that the 2013 was not even tested for.

Wonder how Gen2 would do on the same test.

 

I second this posting. The testing methods changed not the car. The 2014 or 2015 Prius is safer than the 2010-2013.

 

I think 18.5K for new 2015 is what people paid here a few months back. It would be much better upgrade. Although with driving so little, why even bother with Prius?

 

Not everyone drives a Prius just for the gas mileage.

 

Our annual mileage has really fallen off, under 10,000 kms per year. But I'm really hooked.

 

Yeah who wants to replace brakes every 15000 miles? for the birds!